| Mortgage  | | | | 
Have you ever looked at your mortgage papers when the mortgage company sends you their semi-annual statement? OH MY GOSH!! the money that goes direct to interest verses what your actually paying in principle in the first years of owning your home is just awful.
Do you agree, the interest payments are far higher than the principle amount paid on your mortgage?
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| 1.  sleepylittlerose (1447)
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3 years ago
| |  This is with any loan. You pay very little against the principle in the first year. The problem with the home loan is that it takes much longer to get that principle down so the second year will not look much better. On a 30 year mortgage it will take about 10 years before you have a real feeling of success on paying the principle down. Then you will see bigger and bigger chunks of the principle being paid versus going to interest. Oh the joys of buying a home. LOL
| | | | | | | | | | Rates Hit Low 2.90% APR Fannie Mae Cuts Requirements to Refi. Calculate New Mortgage Rate Now! www.MortgageRatesExperts.com | add comment | | | |
| 2.  spalladino (11857)
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2 years ago
| |  I agree with the first responder...this is standard. Loans are set up this way so that the lender can make the most amount of profit on the loan. Since they're investing their money long term when it comes to mortgages, it's not unreasonable.
| | | | | | | | | | President's Refi Program Refinance rates hit 3.01% APR! Calculate new mortgage payment now. www.Refinance.LowerMyBills.com | add comment | | | |
| 3.  besthope44 (10850)
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2 years ago
| |  Well i never mortgaged my home papers.
| | | | | | | | | | Mortgage Refinance 2.375% Mortgage Refinance Rates Drop. Refinance to Lower Rates & Save $1000s. Refinance.MortgageSavingZone.com | add comment | | | |
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